Citigroup Maintains Neutral Rating for NetApp: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Citigroup has maintained a Neutral rating on NetApp (NASDAQ:NTAP) and increased its price target from $83.00 to $90.00. NetApp's shares are currently trading at $90.55, which is 1.12% higher than the last 24 hours. The new price target suggests a slight decrease of 0.6% from the current price. NetApp specializes in enterprise data management and storage solutions, with the Hybrid Cloud segment being its primary revenue generator.
November 30, 2023 | 5:00 pm
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Citigroup maintains a Neutral rating on NetApp but raises the price target to $90.00. NetApp's shares are trading slightly above this target, indicating potential for a minor pullback.
The increase in price target by Citigroup reflects a positive sentiment towards NetApp's fundamentals, but the Neutral rating and the fact that the stock is already trading above the new target price may limit the upside potential in the short term, suggesting a possible minor decline in share price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100